Time to remodel your home?

February 17, 2009 3:22:01 PM PST
The housing market has many of us staying put in our homes for a while, but if you have some extra cash it's also a great time to think of remodeling. If you are going to remodel your home, experts tell us you have to make sure you'll get a return on your investment and that might require you to do it yourself.

After more than thirty years in his east Houston home, Jack Fisher said it was time for a remodel.

"All new cabinets, new appliances, new electrical, new plumbing," said Donald Smith of All Star Construction who is working on Fisher's home.

The bathroom will also get renovated. While Fisher's remodel will cost about $50,000, home improvement expert Jim Dutton said you don't have to spend a lot to see a return.

"The goal on a lot of these projects is to do it yourself," he said.

Dutton said some sure-fire ways to profit on your remodel is to start with the floors. If you spend about $1,000 on hardwood in the living room, you can expect to get a 100% return.

"For less than $1,000, you can change that floor out and have that wood floor. It requires you to do it yourself though," said Dutton.

Next, get rid of carpet in the bathroom. Dutton said in Fisher's bathroom, it would cost about $400 to tile the floor if you do it yourself, but again you'll get your money back.

In outdated bathrooms and kitchens, you can save money by working with your existing cabinets by having them refaced.

"If the cabinet itself is good, you have new doors made, you have new facing put on the cabinet, you save about 50%," said Dutton.

For out of style countertops, get rid of Formica and invest in Granite. However, Dutton said this is one time to have a professional do the work.

"It's cheaper to hire someone to do it than you do it yourself," said Dutton.

For the exterior of your home, have the pros replace particle board siding with cement siding.

Dutton said, "You recoup 80% of that if you go to sell the house."

If nothing else, Dutton said spend $30 to paint a room and clean up your home for when it's time to sell.

"People buy what they see. A new paint job, new flooring, everything nice and clean, then that house will sell," he said.

Since Fisher has no plans to move out of his home, he wanted to splurge on top of the line materials and supplies.

If you have any gas, electrical or plumbing work, make sure to save those jobs for the pros.

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